Market Report: Dominican Republic

Daniel Stockhammer of Horwath HTL Dominican Republic has written the next in our series of Special Market Reports, focusing on the Dominican Republic tourism industry trend.

‘After modest industry growth in the years following the Worldwide Financial Crisis, in recent years visitor arrival numbers in the Dominican Republic increased significantly, reaching a growth of nearly 10% for two consecutive years, thus solidifying its position as the most visited destination in the Caribbean. With a GDP growth of around 7% in both 2014 and 2015, the country ranks among the fastest growing economies in Latin America. In 2015, tourism was the biggest FDI recipient of all economic sectors.‘